XML 27 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
Allowance for Losses on Loans (Tables)
 9 Months Ended
Jun. 30, 2016
Receivables [Abstract]  
Summary of Activity in Allowance for Loan Losses
The following tables summarize the activity in the allowance for loan losses. 
Three Months Ended June 30, 2016
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
41,828

 
$
(634
)
 
$
162

 
$
(675
)
 
$
40,681

Construction
15,726

 
—

 
207

 
1,729

 
17,662

Construction - custom
1,022

 
—

 
60

 
(54
)
 
1,028

Land - acquisition & development
7,252

 
(31
)
 
2,741

 
(3,240
)
 
6,722

Land - consumer lot loans
2,466

 
(26
)
 
5

 
59

 
2,504

Multi-family
6,784

 
—

 
—

 
137

 
6,921

Commercial real estate
7,783

 
—

 
454

 
(94
)
 
8,143

Commercial & industrial
23,824

 
(150
)
 
6

 
716

 
24,396

HELOC
828

 
(27
)
 
—

 
55

 
856

Consumer
2,406

 
(307
)
 
437

 
(433
)
 
2,103

 
$
109,919

 
$
(1,175
)
 
$
4,072

 
$
(1,800
)
 
$
111,016


Three Months Ended June 30, 2015
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
54,762

 
$
(1,698
)
 
$
3,878

 
$
(4,938
)
 
$
52,004

Construction
5,445

 
—

 
—

 
488

 
5,933

Construction - custom
968

 
—

 
—

 
17

 
985

Land - acquisition & development
7,405

 
—

 
1

 
(1,634
)
 
5,772

Land - consumer lot loans
3,035

 
(276
)
 
187

 
53

 
2,999

Multi-family
4,673

 
—

 
—

 
362

 
5,035

Commercial real estate
6,734

 
(1,592
)
 
230

 
1,896

 
7,268

Commercial & industrial
21,146

 
(2,106
)
 
896

 
1,726

 
21,662

HELOC
850

 
(26
)
 
1

 
39

 
864

Consumer
3,305

 
(853
)
 
1,045

 
(408
)
 
3,089

 
$
108,323

 
$
(6,551
)
 
$
6,238

 
$
(2,399
)
 
$
105,611

Nine Months Ended June 30, 2016
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
47,347

 
$
(2,800
)
 
$
2,739

 
$
(6,605
)
 
$
40,681

Construction
6,680

 
—

 
357

 
10,625

 
17,662

Construction - custom
990

 
(60
)
 
60

 
38

 
1,028

Land - acquisition & development
5,781

 
(31
)
 
6,148

 
(5,176
)
 
6,722

Land - consumer lot loans
2,946

 
(701
)
 
5

 
254

 
2,504

Multi-family
5,304

 
—

 
—

 
1,617

 
6,921

Commercial real estate
8,960

 
(32
)
 
1,569

 
(2,354
)
 
8,143

Commercial & industrial
24,980

 
(729
)
 
597

 
(452
)
 
24,396

HELOC
902

 
(54
)
 
21

 
(13
)
 
856

Consumer
2,939

 
(827
)
 
1,226

 
(1,235
)
 
2,103

 
$
106,829

 
$
(5,234
)
 
$
12,722

 
$
(3,301
)
 
$
111,016

Nine Months Ended June 30, 2015
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
62,763

 
$
(4,801
)
 
$
10,553

 
$
(16,511
)
 
$
52,004

Construction
6,742

 
(388
)
 
75

 
(496
)
 
5,933

Construction - custom
1,695

 
—

 
—

 
(710
)
 
985

Land - acquisition & development
5,592

 
(38
)
 
206

 
12

 
5,772

Land - consumer lot loans
3,077

 
(363
)
 
221

 
64

 
2,999

Multi-family
4,248

 
—

 
220

 
567

 
5,035

Commercial real estate
7,548

 
(1,619
)
 
711

 
628

 
7,268

Commercial & industrial
16,527

 
(2,461
)
 
948

 
6,648

 
21,662

HELOC
928

 
(26
)
 
1

 
(39
)
 
864

Consumer
3,227

 
(1,981
)
 
2,394

 
(551
)
 
3,089

Covered loans
2,244

 
 
 
 
 
(2,244
)
 
—

 
$
114,591

 
$
(11,677
)
 
$
15,329

 
$
(12,632
)
 
$
105,611
Summary of Loans Collectively and Individually Evaluated for Impairment and Related Allocation of Reserves
The following tables show loans collectively and individually evaluated for impairment and the related allocation of general and specific reserves.
 
June 30, 2016
Loans Collectively Evaluated for Impairment
 
Loans Individually Evaluated for Impairment
 
Allowance Allocation
 
Recorded Investment of Loans (1)
 
Ratio
 
Allowance Allocation
 
Recorded Investment of Loans (1)
 
Ratio
 
(In thousands)
 
 
 
(In thousands)
Single-family residential
$
39,986

 
$
5,547,373

 
0.7
%
 
$
693

 
$
24,451

 
2.8
%
Construction
17,662

 
442,437

 
4.0

 
—

 
—

 
—

Construction - custom
1,027

 
211,215

 
0.5

 
—

 
1,125

 
—

Land - acquisition & development
6,710

 
87,099

 
7.7

 
13

 
1,454

 
0.9

Land - consumer lot loans
2,504

 
90,983

 
2.8

 
—

 
1,238

 
—

Multi-family
6,911

 
1,091,709

 
0.6

 
11

 
1,513

 
0.7

Commercial real estate
7,963

 
848,187

 
0.9

 
180

 
21,313

 
0.8

Commercial & industrial
24,397

 
832,429

 
2.9

 
—

 
—

 
—

HELOC
856

 
132,869

 
0.6

 
—

 
468

 
—

Consumer
2,103

 
154,107

 
1.4

 
—

 
—

 
—

 
$
110,119

 
$
9,438,408

 
1.2
%
 
$
897

 
$
51,562

 
1.7
%
(1)
Excludes acquired loans with discounts sufficient to absorb potential losses and covered loans
September 30, 2015
Loans Collectively Evaluated for Impairment
 
Loans Individually Evaluated for Impairment
 
Allowance Allocation
 
Recorded Investment of Loans (1)
 
Ratio
 
Allowance Allocation
 
Recorded Investment of Loans (1)
 
Ratio
 
(In thousands)
 
 
 
(In thousands)
Single-family residential
$
47,073

 
$
5,595,752

 
0.8
%
 
$
275

 
$
51,718

 
0.5
%
Construction
6,680

 
124,679

 
5.4

 
—

 
5,441

 
—

Construction - custom
990

 
205,692

 
0.5

 
—

 
—

 
—

Land - acquisition & development
5,781

 
72,602

 
8.0

 
—

 
2,198

 
—

Land - consumer lot loans
2,946

 
93,103

 
3.2

 
—

 
10,824

 
—

Multi-family
5,304

 
1,062,194

 
0.5

 
—

 
5,348

 
—

Commercial real estate
8,960

 
844,691

 
1.1

 
—

 
8,826

 
—

Commercial & industrial
24,980

 
643,577

 
3.9

 
—

 
—

 
—

HELOC
902

 
126,594

 
0.7

 
—

 
1,072

 
—

Consumer
2,938

 
194,569

 
1.5

 
—

 
86

 
—

 
$
106,554

 
$
8,963,453

 
1.2
%
 
$
275

 
$
85,513

 
0.3
%

(1) Excludes acquired loans with discounts sufficient to absorb potential losses and covered loans
Summary of Loans Based on Credit Quality Indicators
The following tables provide information on loans based on risk rating categories as defined above.
June 30, 2016
Internally Assigned Grade
 
 
 
Pass
 
Special mention
 
Substandard
 
Doubtful
 
Loss
 
Total Gross Loans
 
(In thousands)
Non-acquired loans
 
 
 
 
 
 
 
 
 
 
 
  Single-family residential
$
5,533,837

 
$
—

 
$
59,181

 
$
—

 
$
—

 
$
5,593,018

  Construction
1,012,203

 
—

 
4,102

 
—

 
—

 
1,016,305

  Construction - custom
408,538

 
—

 
578

 
—

 
—

 
409,116

  Land - acquisition & development
94,830

 
—

 
7,019

 
—

 
—

 
101,849

  Land - consumer lot loans
100,173

 
—

 
1,558

 
—

 
—

 
101,731

  Multi-family
1,087,363

 
3,252

 
4,121

 
—

 
—

 
1,094,736

  Commercial real estate
861,771

 
11,345

 
13,841

 
—

 
—

 
886,957

  Commercial & industrial
755,361

 
6,532

 
48,549

 
—

 
—

 
810,442

  HELOC
133,939

 
—

 
796

 
—

 
—

 
134,735

  Consumer
154,148

 
—

 
113

 
—

 
—

 
154,261

 
10,142,163

 
21,129

 
139,858

 
—

 
—

 
10,303,150

 
 
 
 
 
 
 
 
 
 
 
 
Non-impaired acquired loans
132,710

 
47

 
7,612

 
—

 
—

 
140,369

Credit-impaired acquired loans
65,106

 
—

 
31,381

 
—

 
4

 
96,491

Covered loans
31,849

 
—

 
342

 
—

 
—

 
32,191

Total gross loans
$
10,371,828

 
$
21,176

 
$
179,193

 
$
—

 
$
4

 
$
10,572,201

 
 
 
 
 
 
 
 
 
 
 
 
Total grade as a % of total gross loans
98.1
%
 
0.2
%
 
1.7
%
 
—
%
 
—
%
 
 

September 30, 2015
Internally Assigned Grade
 
 
 
Pass
 
Special mention
 
Substandard
 
Doubtful
 
Loss
 
Total Gross Loans
 
(In thousands)
Non-acquired loans
 
 
 
 
 
 
 
 
 
 
 
 Single-family residential
$
5,558,700

 
$
—

 
$
93,145

 
$
—

 
$
—

 
$
5,651,845

 Construction
197,935

 
—

 
2,574

 
—

 
—

 
200,509

 Construction - custom
396,307

 
—

 
—

 
—

 
—

 
396,307

 Land - acquisition & development
89,656

 
—

 
4,552

 
—

 
—

 
94,208

 Land - consumer lot loans
103,569

 
—

 
420

 
—

 
—

 
103,989

 Multi-family
1,118,673

 
865

 
6,184

 
—

 
—

 
1,125,722

 Commercial real estate
971,510

 
4,360

 
10,400

 
—

 
—

 
986,270

 Commercial & industrial
575,034

 
1,496

 
36,306

 
—

 
—

 
612,836

 HELOC
127,398

 
—

 
248

 
—

 
—

 
127,646

 Consumer
194,451

 
—

 
204

 
—

 
—

 
194,655

 
9,333,233

 
6,721

 
154,033

 
—

 
—

 
9,493,987

 
 
 
 
 
 
 
 
 
 
 
 
Non-impaired acquired loans
149,891

 
—

 
16,402

 
—

 
—

 
166,293

Credit-impaired acquired loans
61,019

 
—

 
26,062

 
—

 
—

 
87,081

Covered loans
61,776

 
—

 
14,133

 
—

 
—

 
75,909

Total gross loans
$
9,605,919

 
$
6,721

 
$
210,630

 
$
—

 
$
—

 
$
9,823,270

 
 
 
 
 
 
 
 
 
 
 
 
Total grade as a % of total gross loans
97.8
%
 
0.1
%
 
2.1
%
 
—
%
 
—
%
 
 

The following tables provide information on loans (excluding acquired and covered loans) based on borrower payment activity.
June 30, 2016
Performing Loans
 
Non-Performing Loans
 
Amount
 
% of Total
Gross  Loans
 
Amount
 
% of Total
Gross  Loans
 
(In thousands)
Single-family residential
$
5,556,312

 
99.3
%
 
$
36,707

 
0.7
%
Construction
1,016,305

 
100.0

 
—

 
—

Construction - custom
408,610

 
99.9

 
506

 
0.1

Land - acquisition & development
101,422

 
99.6

 
427

 
0.4

Land - consumer lot loans
100,626

 
98.9

 
1,105

 
1.1

Multi-family
1,093,495

 
99.9

 
1,238

 
0.1

Commercial real estate
880,661

 
99.3

 
6,297

 
0.7

Commercial & industrial
809,921

 
99.9

 
521

 
0.1

HELOC
134,188

 
99.6

 
548

 
0.4

Consumer
154,261

 
100.0

 
—

 
—

 
$
10,255,801

 
99.5
%
 
$
47,349

 
0.5
%

September 30, 2015
Performing Loans
 
Non-Performing Loans
 
Amount
 
% of Total
Gross  Loans
 
Amount
 
% of Total
Gross  Loans
 
(In thousands)
Single-family residential
$
5,592,771

 
99.0
%
 
$
59,074

 
1.0
%
Construction
199,755

 
99.6

 
754

 
0.4

Construction - custom
395,575

 
99.8

 
732

 
0.2

Land - acquisition & development
94,208

 
100.0

 
—

 
—

Land - consumer lot loans
102,716

 
98.8

 
1,273

 
1.2

Multi-family
1,123,165

 
99.8

 
2,558

 
0.2

Commercial real estate
984,093

 
99.8

 
2,176

 
0.2

Commercial & industrial
612,836

 
100.0

 
—

 
—

HELOC
127,083

 
99.6

 
563

 
0.4

Consumer
193,975

 
99.7

 
680

 
0.3

 
$
9,426,177

 
99.3
%
 
$
67,810

 
0.7
%
Summary of Impaired Loans Based on Type
The following tables provide information on impaired loan balances and the related allowances by loan types. 
 
 
 
 
 
 
 
 
June 30, 2016
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average Recorded Investment
 
(In thousands)
Impaired loans with no related allowance recorded:
 
 
 
 
 
 
 
Single-family residential
$
9,602

 
$
11,287

 
$
—

 
$
8,491

Construction - custom
578

 
578

 
—

 
289

Land - acquisition & development
164

 
8,393

 
—

 
164

Land - consumer lot loans
650

 
747

 
—

 
599

Multi-family
428

 
4,177

 
—

 
736

Commercial real estate
5,673

 
6,588

 
—

 
5,697

Commercial & industrial
906

 
7,627

 
—

 
544

HELOC
368

 
483

 
—

 
354

Consumer
33

 
483

 
—

 
17

 
18,402

 
40,363

 
—

 
16,891

Impaired loans with an allowance recorded:
 
 
 
 
 
 
 
Single-family residential
223,533

 
227,633

 
4,202

 
224,274

Land - acquisition & development
1,454

 
2,656

 
8

 
1,543

Land - consumer lot loans
9,672

 
10,734

 
5

 
9,748

Multi-family
1,513

 
1,513

 
11

 
1,518

Commercial real estate
20,490

 
24,316

 
180

 
19,816

HELOC
1,379

 
1,394

 
—

 
1,388

Consumer
95

 
285

 
—

 
95

 
258,136

 
268,531

 
4,406

(1)
258,382

Total impaired loans:
 
 
 
 
 
 
 
Single-family residential
233,135

 
238,920

 
4,202

 
232,765

Construction - custom
578

 
578

 
—

 
289

Land - acquisition & development
1,618

 
11,049

 
8

 
1,707

Land - consumer lot loans
10,322

 
11,481

 
5

 
10,347

Multi-family
1,941

 
5,690

 
11

 
2,254

Commercial real estate
26,163

 
30,904

 
180

 
25,513

Commercial & industrial
906

 
7,627

 
—

 
544

HELOC
1,747

 
1,877

 
—

 
1,742

Consumer
128

 
768

 
—

 
112

 
$
276,538

 
$
308,894

 
$
4,406

(1)
$
275,273



(1)
Includes $897,000 of specific reserves and $3,509,000 included in the general reserves.


September 30, 2015
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
(In thousands)
Impaired loans with no related allowance recorded:
 
 
 
 
 
 
 
Single-family residential
$
17,250

 
$
19,644

 
$
—

 
$
14,069

Construction
453

 
2,151

 
—

 
471

Construction - custom
554

 
554

 
—

 
182

Land - acquisition & development
2,570

 
9,426

 
—

 
926

Land - consumer lot loans
727

 
814

 
—

 
544

Multi-family
3,770

 
7,054

 
—

 
1,545

Commercial real estate
9,427

 
15,620

 
—

 
8,130

Commercial & industrial
2,955

 
13,066

 
—

 
2,681

HELOC
683

 
1,532

 
—

 
536

Consumer
477

 
703

 
—

 
390

 
38,866

 
70,564

 
—

 
29,474

Impaired loans with an allowance recorded:
 
 
 
 
 
 
 
Single-family residential
259,461

 
263,268

 
6,678

 
260,028

Construction
4,988

 
5,778

 
—

 
5,432

Land - acquisition & development
2,486

 
3,426

 
—

 
3,478

Land - consumer lot loans
11,289

 
11,554

 
—

 
11,324

Multi-family
3,823

 
3,823

 
—

 
3,732

Commercial real estate
19,124

 
21,078

 
—

 
18,886

HELOC
1,443

 
1,443

 
—

 
1,359

Consumer
99

 
289

 
—

 
102

 
302,713

 
310,659

 
6,678

(1)
304,341

Total impaired loans:
 
 
 
 
 
 
 
Single-family residential
276,711

 
282,912

 
6,678

 
274,097

Construction
5,441

 
7,929

 
—

 
5,903

Construction - custom
554

 
554

 
—

 
182

Land - acquisition & development
5,056

 
12,852

 
—

 
4,404

Land - consumer lot loans
12,016

 
12,368

 
—

 
11,868

Multi-family
7,593

 
10,877

 
—

 
5,277

Commercial real estate
28,551

 
36,698

 
—

 
27,016

Commercial & industrial
2,955

 
13,066

 
—

 
2,681

HELOC
2,126

 
2,975

 
—

 
1,895

Consumer
576

 
992

 
—

 
492

 
$
341,579

 
$
381,223

 
$
6,678

(1)
$
333,815


(1)
Includes $275,000 of specific reserves and $6,403,000 included in the general reserves